Exhibit 23(g)

                          Consent of Financial Advisor

We hereby consent to the inclusion in the Registration Statement on Form S-4 of
First Merchants Corporation relating to the proposed merger with CNBC Bancorp,
of our opinion letter to the Board of Directors of CNBC Bancorp, dated August
27, 2002, appearing as Appendix C to the Proxy Statement/Prospectus which is a
part of the Registration Statement, and to the references to such opinion
therein and the references of our firm name therein. In giving such consent, we
do not thereby admit that we come within the category of person whose consent is
required under Section 7 or Section 11 of the Securities Act of 1933, as
amended, or the rules and regulations adopted by the Securities and Exchange
Commission thereunder nor do we admit that we are experts with respect to any
part of such Registration Statement within the meaning of the term "experts" as
used in the Securities Act of 1933, as amended, or the rules and regulations of
the Securities and Exchange Commission thereunder.


STIFEL, NICOLAUS & COMPANY, INCORPORATED
December 3, 2002
St. Louis, Missouri


                                  Ex. 23(g)-1